Date: October 07, 2026

Regulatory Compliance Disclosure

This document constitutes a formal response to clarification sought by the National Stock Exchange of India Limited (NSE) regarding disclosures made under Regulation 30 of the SEBI Listing Regulations. The clarification addresses specific points related to the company's acquisition of GScale Energy Private Limited.

Acquisition Details Clarification

The document references multiple previous intimations:

  • Initial intimation dated June 25, 2026
  • Addendum to Investors Presentation dated June 29, 2026
  • Intimation dated July 30, 2026 regarding completion of acquisition of 33.55% equity share capital of GScale
  • Intimation dated September 28, 2026 confirming GScale as a subsidiary

The proposed acquisition involves up to 51% of the equity share capital of GScale Energy Private Limited, which was incorporated on May 15, 2026.

Infrastructure Possession Clarification

GScale possesses approximately 4 lakh square feet of operational infrastructure on a leasehold basis. The company executed a term sheet dated June 17, 2026 with the lessor, securing its right to occupy the premises.

Subsequent to the June 25, 2026 announcement:

  • GScale executed a sub-lease agreement dated July 16, 2026 for approximately 2,73,000 square feet
  • The sub-lease agreement for the balance approximately 1,70,000 square feet is expected to be executed by February 2027

These agreements formalize GScale's possession and leasehold rights over the infrastructure.

Project Capacity Reference Clarification

The reference to "486 MW delivered and 1 GW+ under execution" in previous announcements does not represent projects executed by GScale Energy Private Limited. This reference specifically relates to:

  • The track record and experience of Mr. Kasu Brahma Reddy, Founder and Managing Director of GScale
  • The experience of the leadership team associated with GScale
  • Experience gained in their prior professional roles in the AI Datacentre engineering industry

This experience, domain expertise, and industry relationships of the leadership team are available to GScale and formed part of the acquisition rationale.